What were the potential drawbacks of the U.S entering the TTP? What would be the draw...
What were the potential drawbacks of the U.S entering the TTP? What would be the draw backs of other nations?
Homework Answers
TTP was a trade agreement between US and 11 other nations along the Pacific coast. The countries produce 40% of the world's gross domestic product. US said it did not get enough concessions for the trade pact to become viable for it, plus US is the world's largest economy in terms of GDP, it would have produced most and exported to other countries, moving the balance of trade in their favour, other countries might have felt disadvantaged. Other nations gave several concessions in the form of patents to US, this would have proved disadvantageous to other nations and harmed their exports, developed nations would have suffered due to cheap imports from less developed regions, shifting the trade impact in weaker nations power, thus undermining the reason to join the pact in the end, if it is not benefiting them as developed nations.
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What were the potential drawbacks of the U.S entering the TTP?
What would be the draw...
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